What is a Hanging Man Indices Candlesticks Pattern?
What Does Hanging Man Candlestick Mean? Hanging Man Candlestick Definition
Hanging Man stock indexes candlesticks pattern is a potentially bearish reversal stock indices signal that occurs during a upward indices trend. It is named so because it resembles a man hanging on a noose up high.
A hanging man candlestick has:
- A small body
- The body is at the top
- The lower shadow is two or three times the length of the real body.
- Has no upper shadow or very small upper shadow if present.
- The color of the body is not important
What is a Hanging Man Candlestick in Indices Trading? - Hanging Man Stock Indexes Candlestick Pattern - Indices Candlesticks Pattern
Technical Analysis of Hanging Man Candlesticks
The sell stock indices signal is confirmed when a bearish candlestick closes below the open of the candlestick on the left side of this hanging man stock indices candlestick pattern.
Stop orders should be place a few pips just above the high of the hanging man candlestick.
